Welcome to our dedicated page for Elanco Animal Health Incorporated news (Ticker: ELAN), a resource for investors and traders seeking the latest updates and insights on Elanco Animal Health Incorporated stock.
Elanco Animal Health Incorporated (NYSE: ELAN) is a global leader in animal health, committed to innovating and delivering products and services to improve the health and wellness of both farm animals and pets. Established with nearly 70 years of heritage, Elanco operates in over 90 countries with a diverse portfolio of approximately 200 brands. Their core mission is encapsulated in their vision: 'Food and Companionship Enriching Life,' which they pursue through three primary avenues:
- Enhancing food security by improving the health and productivity of farm animals, thereby contributing to a safer, more affordable, and abundant food supply.
- Helping pets live longer, healthier lives through advanced veterinary products.
- Improving food safety standards globally.
Elanco’s dedication to animal health is reflected in their continuous innovation and quality systems, driven by a shared vision of enhancing life for animals and humans alike. This commitment is evident in their recent achievements and ongoing projects. For instance, Elanco's collaboration with Agtech company, Cattler, aims to provide data-driven solutions to cattle farmers, enhancing operational efficiency and productivity through services like Benchmark™ and Experior™.
Elanco's financial health is strong, with the company reporting consistent revenue growth and strategic investments aimed at future expansion. In their recent financial results, Elanco posted a 5% growth in the fourth quarter and strengthened their commercial infrastructure to support ongoing and future growth. They also announced the divestiture of their aqua business to streamline operations and focus on core areas, which is expected to reduce their debt leverage significantly by year-end.
Environmental sustainability is another critical focus for Elanco. Their recent partnership with Athian to create a livestock carbon insetting marketplace is a significant step towards reducing greenhouse gas emissions in the dairy and beef industries. Products like Bovaer®, which significantly reduce methane emissions from cattle, exemplify Elanco's commitment to sustainable farming practices.
Overall, Elanco continues to be at the forefront of animal health innovation, with substantial investments in R&D, strategic partnerships, and a clear commitment to sustainability and community health.
Elanco recently explored the challenges and motivations of veterinarians through interviews with Dr. Emily Swiniarski and Dr. Amanda Schnitker. The discussion highlighted the complex reality of veterinary medicine, where professionals enter the field for their love of animals but find their work heavily involves managing pet owners' emotions and expectations. Key issues facing veterinarians include:
1. Ongoing impacts of the COVID-19 pandemic
2. Compassion fatigue
3. Shortage of veterinarians and technical staff
4. Visit decline due to new competitive care models
Despite these challenges, veterinarians find fulfillment in providing care and connecting with animals and their owners. Elanco supports veterinarians by offering business expertise and innovative solutions for unmet needs in animal health.
Elanco Animal Health (NYSE: ELAN) has provided an update on its contract manufacturing partner, TriRx Speke , which has entered into trading administration in the UK. Elanco has a long-term supply agreement with TriRx for select farm animal products. The company is working with administrators to ensure business continuity and explore options. Elanco expects minimal supply disruption in 2024 and is underwriting operational costs to maintain production and employee payments in the interim.
Despite an anticipated reduction of $5 million to $10 million in adjusted EBITDA for 2024 due to the TriRx situation, Elanco maintains its full-year adjusted EBITDA guidance of $900 million to $940 million.
Elanco Animal Health (NYSE: ELAN) announces its participation in the Morgan Stanley 22nd Annual Global Healthcare Conference, scheduled for September 4-5, 2024. The company's President and CEO Jeff Simmons, along with Executive VP and CFO Todd Young, will engage in a fireside chat on Thursday, September 5 at 3:20 p.m. ET.
Investors and interested parties can access a live audio webcast of the session through the "Events and Presentations" section of Elanco's investor website. For those unable to attend live, a replay will be available for approximately 30 days after the event. This conference participation highlights Elanco's commitment to investor relations and provides an opportunity for stakeholders to gain insights into the company's strategies and performance.
Elanco Animal Health Incorporated (NYSE: ELAN) announced that its broad-spectrum parasiticide, Credelio Quattro, has entered the final 60-day FDA administrative review. The company expects U.S. approval in October and plans to launch the product in Q1 2025. Elanco is seeking approval for indications that would provide the broadest parasite coverage, including fleas, ticks, heartworms, and tapeworms.
CEO Jeff Simmons highlighted Elanco's robust innovation portfolio, projecting $600 million to $700 million in innovation sales for 2025. The company is finalizing manufacturing scale-up to optimize the launch. This development follows the completion of Bovaer's review ahead of schedule, with both Zenrelia and Credelio Quattro now in final FDA review, demonstrating Elanco's R&D capabilities.
Elanco's CEO Jeff Simmons launches the Shared Table LinkedIn Newsletter, focusing on conversations about leadership, purpose, animals, and improving life. The first edition features a discussion with Dr. Frank Mitloehner, Director of the UC Davis CLEAR Center, on livestock sustainability and climate change.
Key points include:
- The potential for climate-neutral animal agriculture within this decade
- The importance of reducing methane to mitigate global warming
- Introduction of Bovaer, a methane-reducing feed ingredient for dairy cattle
- The dairy industry's opportunity to impact methane emissions significantly
- The need for sustainability solutions that provide both economic and environmental benefits
The conversation highlights the $1-2 billion market potential in animal health for livestock sustainability solutions.
A recent study published in Parasites & Vectors demonstrates that Credelio, an Elanco Animal Health product, outperforms competitors in tick protection for dogs. The study compared Credelio (lotilaner) with Simparica TRIO (sarolaner, moxidectin, pyrantel) and NexGard (afoxolaner) against the aggressive lone star tick. Key findings include:
1. Credelio kills ticks 2x faster than competitors, achieving significant tick reduction within 12 hours.
2. Credelio maintains rapid tick-killing efficacy throughout the entire month-long treatment period.
3. Only Credelio showed significant tick reduction compared to the untreated control group at all 12-hour evaluation intervals.
This study is particularly relevant as the CDC reported over 45,000 human cases of tickborne diseases from 2019-2022. Credelio's superior performance in rapidly killing ticks could help reduce the risk of pathogen transmission to both pets and humans.
Elanco Animal Health (NYSE: ELAN) reported Q2 2024 results with revenue of $1,184 million, a 12% increase. The company saw a net loss of $50 million and adjusted net income of $147 million. Adjusted EBITDA stood at $275 million, 23.2% of revenue, while adjusted EPS was $0.30.
Elanco raised its full-year revenue guidance to $4,410-$4,460 million, reflecting 3-4% organic constant currency growth. The net income forecast is $314-$352 million, with adjusted EPS at $0.88-$0.96. The company completed the sale of its aqua business, reducing debt by $1.3 billion.
Key products like Experior, Adtab, and Credelio Plus contributed to growth. FDA approvals for Bovaer and the pending approval for Zenrelia are expected to boost future revenues. Pet Health revenue rose 12% to $579 million, while Farm Animal revenue increased 13% to $594 million. Gross profit was $689 million, 58.2% of revenue. Elanco projects $1.02-$1.05 billion in Q3 2024 revenue and $0.09-$0.14 in adjusted EPS.
Elanco Animal Health (NYSE: ELAN) has released its 2023 Environmental, Social and Governance (ESG) Report, highlighting progress in its four Healthy Purpose™ Pillars: Healthier Animals, Healthier People, Healthier Planet, and Healthier Enterprise. Key achievements include:
- Launched initiatives to combat canine parvovirus and expand pet care accessibility
- Introduced farm-level analytics for dairy producers
- Acquired NutriQuest® portfolio to offer antibiotic alternatives
- Achieved 12% renewable electricity use, progressing towards 100% by 2030
- Helped customers avoid 2.3 million metric tons of GHG emissions in 2023
- Contributed over 23,600 employee volunteer hours valued at $790,000
- Committed $3.7 million in charitable and community giving
The report also includes updated SASB and TCFD disclosures, reflecting Elanco's commitment to sustainability and its role as a competitive advantage in the animal health industry.
Elanco has introduced Bovaer® (3-NOP), a new feed ingredient for dairy cows that offers a dual benefit of environmental stewardship and financial rewards for farmers. This innovative solution allows dairy farmers to reduce greenhouse gas emissions while creating a new revenue stream through carbon credit sales.
The process is facilitated by Elanco's UpLook™ tool, which quantifies emissions reductions, and Athian, a livestock carbon inset marketplace for credit transactions. This development demonstrates that sustainability and profitability can coexist in modern dairy farming, providing a scalable approach to on-farm sustainability interventions.
Elanco Animal Health Incorporated (NYSE: ELAN) has announced the date for its second quarter 2024 financial results. The company will release its results on Thursday, August 8, 2024, followed by a conference call at 8:00 a.m. eastern time. This call will provide an opportunity for the investment community and media to gain further insights into the company's performance.
Investors, media, and the general public can access a live webcast of the conference call through a link that will be posted on Elanco's investor relations website. For those unable to attend the live event, a replay will be made available on the same website shortly after the call concludes.
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